Author: Suzanne Koch

15-Year Newmark Exec Joins Top-Growing Multifamily Investment Company RPM Living

Zach Springer Brings Industry-Wide Relationships on the Heels of RPM’s Most Active Investment Year. 

RPM Living, a full-service multifamily investment and management company, is adding to its bench strength with the addition of Zach Springer as Partner and Managing Director of Capital Markets. On the heels of the company’s most active investment year – closing 18 transactions for over $1B in value in four states – Springer is poised to oversee equity/debt for RPM at a national level. Springer will elevate RPM’s equity sourcing capabilities and continue to expand the institutional investor base by leveraging RPM’s data, geographical footprint, and exceptional investment track record.   

“Adding a superior talent like Zach to the team is an exciting way to kick off the year,” says Hank Farrell, Chief Executive Officer of RPM Investments. “His depth of relationships and market knowledge from a national standpoint is key as we implement our investment strategy with current and new equity groups across the country.” 

Prior to joining RPM, Springer was Vice Chairman at Newmark, where he was directly involved in over $10B in multifamily transactions across all classes of multifamily properties. He helped lead (along with his partners) the Newmark Houston office to a No. 1 ranking in market share/transaction volume for the last eight years and No. 1 in the nation in 2021 among all multifamily brokerage shops. Springer has a Bachelor of Arts in Economics from The University of Texas with a minor in Business. He is an active supporter in non-profit organizations, including Yellowstone Academy, Apartment Life, HOPE International, Family Legacy, and Free the Captives.  

“After 16 years in the business, I never thought I would see the day I left brokerage and especially my team in Houston that is more like family than colleagues. It took a unique situation, which I believe this opportunity offers,” says Springer. “I have known and been friends with Hank and Jason [Berkowitz, CEO of RPM Living, Management] for nearly 20 years and feel fortunate to have the chance to partner with them and build something special over the next 20 years. The goal is to be the best investor, operator, and manager in the industry, and I look forward to seeing what we can accomplish together. The energy around RPM and their leadership is what stood out to me and reminds me of what the Newmark team has in Houston.”     

About RPM Living 

RPM Living is a full-service multifamily management and investment company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #6 on the NMHC Top 50 Largest Apartment Manager list, managing more than 180 clients, 12 regional offices and 200,000 units, with an owned portfolio of $3.5 billion. The firm has grown to 4,500 associates nationwide spread across over 50 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com.  

Photo: Zach Springer, Partner and Managing Director of Capital Markets at RPM Living

For the latest news, visit RPMLiving.com/blog.

RPM Living Invests in Key Markets, Focuses on Nashville, Las Vegas Growth

Builds on 100,000+ Units Added in 2023, Opens New Corporate Offices to Support Nationwide Growth.

RPM Living, the sixth largest apartment manager in the nation, announces its expansion into two new markets – Nashville and Las Vegas. It has opened corporate offices in both cities to oversee the properties it manages and planned growth in each. In addition, RPM recently relocated its Phoenix and Houston offices to support significant growth in those markets.

RPM has added 29 properties in Nashville, bringing its total managed units there to over 6,000. To service these units, it added a new corporate office in Nashville, which will celebrate its grand opening this spring. The office is located at 1222 Demonbreun Street, Ste 100 at Gulch Union, Nashville’s newest development, between downtown Nashville and Music Row in the heart of the city’s business community and entertainment district. It is located in a high-rise, class-AA building that is pre-certified LEED Silver with amenities including an indoor-outdoor sky lounge, and 48-seat training room.

“Since entering the Tennessee market last year, we have grown rapidly,” said Jason Berkowitz, Chief Executive Officer of RPM Living. "Our strategy moving into 2024 is to continue growing our footprint in Nashville and Memphis, and to break into the Knoxville market. We have an incredible team who have operated in multiple Tennessee markets for many years, so we are well positioned to continue on in the path of making this a fast-growing, high-performing region for RPM."

RPM’s new Las Vegas corporate office was necessitated by adding 24 properties to its portfolio in that market last year, amounting to 5,424 new units. The new RPM office is located at 9075 West Diablo Dr., Suite 130, about 15 minutes from The Strip.

“Expanding our footprint purposefully and strategically allows us to stay one step ahead of the competition,” said Berkowitz. “We see a lot of opportunity for growth in Las Vegas and Nashville and both will be key markets of focus for us heading into 2024.”

In Phoenix, RPM recently relocated its corporate office into an expansive new space at the Esplanade development, steps from Biltmore Shopping Center. RPM manages 48 properties and more than 12,000 units in Phoenix. RPM also relocated its Houston office last year into a larger space in the Post Oak area. RPM manages 83 properties and over 25,000 units in Houston.

RPM’s overall operational strategy for 2024 is to focus heavily on the basics of its business: its associates, residents and clients. It is pushing for continued associate engagement, both company-wide, and at the regional level, to ensure associates consistently feel supported, included and “in the know” on all things necessary to do their jobs effectively. RPM also will put a more personal touch on its resident interactions to increase resident satisfaction and reduce turnover. And lastly, it will focus on more frequent and consistent communication with its clients, with a proactive approach to meeting their goals and improving overall property performance.

For more information about RPM and its national portfolio, visit RPMLiving.com.

About RPM Living

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #6 on the NMHC Top 50 Largest Apartment Manager list, managing more than 180 clients, 12 regional offices and 200,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to 4,500 associates nationwide spread across over 50 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com.

Photo: Nashville Office at 1222 Demonbreun, Thomas Harris Photography

For the latest news, visit RPMLiving.com/blog.

RPM Living Hires Chief Economist for an Edge on Predictive Analysis

Brad Dillman brings housing forecast model expertise and more than 15 years of experience to RPM

RPM Living, the sixth largest apartment manager in the nation, announces hiring well-respected chief economist, Brad Dillman, to enhance its forecasting capabilities as it dials in on strategic growth, and provide associates with a competitive operational resource. 

“I’m excited to be on board and look forward to enhancing the gains made by our award-winning analytics infrastructure,” says Dillman.  

The addition of Dillman brings a new level of technical expertise to RPM, through statistical modeling, data science, and forecasting, which informs how it can build operational models that will improve performance. This, coupled with the internal and external data it collects, will help RPM and its clients make savvier investment decisions.  

We are bringing Brad on board to enhance our predictive analytics and forecasting abilities, which are being both demanded and made possible by our rapidly growing scale,” said Jason Berkowitz, Chief Executive Officer of RPM Living. “Brad is a well-respected and proven macro-strategic thought leader and technical expert that will help us grow our management and investment platforms and arm our associates with even more resources to continue providing best-in-class service.” 

Prior to joining RPM, Dillman was an economist and data scientist building housing forecast models for well-known national homebuilders and other multifamily property management companies. He has a Master’s Degree from the London School of Economics and holds the Financial Risk Manager (FRM) and Chartered Alternative Investment Analyst (CAIA) professional designations. 

Dillman tracks industry, economic, and capital market trends, regularly presenting to investors and other key stakeholders and industry audiences. He leads research and analytical initiatives through hands-on experience in forecasting and predictive modeling, including econometric, stochastic, and machine-learning processes and then translates that research and analysis into actionable takeaways. Dillman has authored numerous works on the economy and housing and is regularly tapped for his insights as a media commentator on national outlets including CNBC, Bloomberg, Wall Street Journal, New York Times and Yahoo Finance. 

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About RPM Living 

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #6 on the NMHC Top 50 Largest Apartment Manager list, managing more than 180 clients, 12 regional offices and 200,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to 4,500 associates nationwide spread across over 50 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com.  

 

Photo: Brad Dillman, Chief Economist at RPM Living

For the latest news, visit RPMLiving.com/blog.

RPM Living Named No. 5 Top Multifamily Property Management Firm by MHN

RPM Living has made the top 5 of MHN's annual Top 50 Property Management Firms rankings for 2023! For more information on the rankings and methodology, please visit Multi-Housing News’ website.

 

For the latest news, visit RPMLiving.com/blog.

RPM Living Leans Into Giving Back; Discusses What's Important to Renters in Multi-Housing News Feature

Lindsay Jacobs, our Senior Vice President of Marketing, was recently featured in Multi-Housing News where she shares what's become top-priority for prospects and residents, like helping the greater good through sustainable features and amenities and giving back to the local community, highlighting our in-house charitable arm RPM Serves as an example.​ Read the full article on MHN's website.

 

For the latest news, visit RPMLiving.com/blog.

Thoughtful Growth Earns RPM Living National Recognition as the Sixth Largest Apartment Manager on 2023 NMHC Top 50 List

RPM Living is now the sixth largest manager in the nation, moving up one spot to No. 6 on the Top 50 List of Apartment Managers by the National Multifamily Housing Council (NMHC). The firm had the second largest portfolio increase among the Top 50 managers. 

In 2022, RPM Living experienced its largest year of growth, adding nearly 50,000 units to its portfolio, and entering six new states, including Indiana, Minnesota, Nevada, New Mexico, Ohio, and Wisconsin. Today, the firm manages a total of 148,603 units across 25 states. This path of purposeful growth has not only expanded RPM’s national footprint but created opportunities to bring on incredible talent from inside and outside the industry, further diversifying and enhancing the knowledge and skills of its teams. 

“The opportunities created for our associates is truly what excites me most about our growth – expanding our footprint purposefully and strategically allows us to stay one step ahead of the competition,” says Jason Berkowitz, Chief Executive Officer of RPM Living. “Our No. 6 ranking is a true testament to our teams and our commitment to living our vision of being a place where extraordinary people thrive.” 

This vision – along with a new mission and set of core values – was introduced at the end of 2022 to better align with who the company is today and to ensure the reimagined values ladder up to the mission and vision. Each element also reinforces a focus on advanced performance, enhanced client and resident relationships, and cultivating a people-centric organization for its 3,200 associates.  

By growing strategically, RPM has also been able to keep an ongoing focus on technology and innovation. Its Analytics team was recently named a 2023 CRE Tech Influencer by GlobeSt.com for its custom proprietary solutions and forward thinking. Also recognized this past year for bold, impactful ideas, RPM’s Marketing team was named Department of the Year in the 2022 PR & Marketing Excellence Awards. 

The NMHC Top 50 is the industry’s chief ranking of the nation’s 50 largest apartment developers, 50 largest apartment owners, 50 largest apartment managers, 25 largest builders and 10 largest syndicators. This year marks the fourth consecutive year RPM has been included in the industry’s chief ranking of the nation’s largest managers after debuting at No. 42 in 2020. 

For more information about RPM and its national portfolio, visit RPMLiving.com. 

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About RPM Living 

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #6 on the NMHC Top 50 Largest Apartment Manager list, managing more than 150 clients, 10 regional offices and 148,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to over 3,200 associates nationwide spread across over 45+ markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com. 

Photo: Olmsted Savannah, a 163-unit property in Savannah, GA which RPM Living developed, owns and manages.

 

For the latest news, visit RPMLiving.com/blog.

GSH Selects RPM Living as Management Partner for 16 Communities in the Midwest, Mid-Atlantic, and Southeast Markets

RPM Living, a full-service management company and the seventh largest apartment manager in the nation, has been awarded management of Michigan-based GSH Real Estate’s entire 5,000+-unit portfolio of conventional multifamily properties.

The partnership, born out of a client referral, provides a tremendous opportunity for both companies to collaborate on a variety of value-add efforts across the portfolio, to include enhanced resident services, amenities, and unit renovations.

“We aim to collaborate with innovative partners that support our goal of providing high-quality housing and superior returns,” says Gideon Pfeffer, CEO & Managing Partner of GSH Real Estate Group. “RPM Living’s values and strategic approach to property management complements the experience we provide to our residents and investors.”

RPM took over management of the portfolio in stages from November 2022 to February 2023. The majority of GSH’s portfolio (13 communities) is in the Midwest throughout Michigan, Ohio, and Indiana, with an additional three communities in Florida and Maryland. RPM’s partnership with GSH further expands and solidifies its footprint as one of the nation’s top multifamily management companies.

“Our roots come from a principal mindset – we pride ourselves on creating value by being innovative and creative with property operations,” says Jason Berkowitz, CEO of RPM Living. “As a likeminded partner, GSH is aligned with our focus on best practice and always operating with a people-first mentality, in terms of both our associates and residents. We’re excited to continue elevating the living experience across this portfolio alongside GSH.”

RPM first entered the Midwest region in March 2021 and has steadily grown its presence since then. Today, RPM manages more than 7,000 units throughout 10 Midwest markets including Chicago, Cleveland, Detroit, Grand Rapids, Indianapolis, Kansas City, Lansing, Madison, Minneapolis, and Omaha.

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About RPM Living

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #7 on the NMHC Top 50 Largest Apartment Manager list, managing more than 150 clients, 10 regional offices and 148,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to over 3,200 associates nationwide spread across over 45+ markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com.

About The GSH Real Estate Group

The GSH Group is a privately held real estate investment firm specializing in the acquisition and management of multifamily residential properties in multiple markets that support economic stability, growth, and strong educational systems. Our growth-oriented strategy is a disciplined approach to acquiring and managing properties, carefully curating a portfolio of high cash-flowing opportunities for our investors. GSH and its ESG-related Meadows brand focus on enhancing their communities with a concierge approach to improving their residents' lives while providing investors with ethical and transparent communications with the opportunity to achieve superior returns on investments. To learn more, visit www.gshrealestate.com.

Photo: The Grove, a 320-unit community in Grand Rapids, Michigan, owned by GSH Real Estate Group and managed by RPM Living. 

 

For the latest news, visit RPMLiving.com/blog.

RPM Living’s Analytics Team Recognized as a Tech Influencer by GlobeSt.com for its Innovative Thinking and Proprietary Solutions

RPM Living’s Analytics Team has received recognition for its forward thinking, having been named a 2023 CRE Tech Influencer by GlobeSt.com. Formed in 2020, the team has developed and implemented a data infrastructure that helps to seamlessly move data around the company, greatly improving efficiency across all levels and departments of the organization during its largest years of growth.  

The Analytics team has developed tools and processes to help the organization scale and capture data to make informed decisions including a customized marketing BI dashboard that provides proprietary data insights that directly impact property performance, an internal key performance indicator (KPI) program that’s able to predict NOI, a front-end reporting tool to provide better insight into property performance, and an internal billback application that has greatly increased collections of billable services.  

By leveraging these tools and technology, the Analytics team has supported and enabled our best-in-class Transitions & Due Diligence team in transitioning in a record number of properties, which directly supported the organization being able to climb from No. 42 to No. 6 on the NMHC Top 50 list in just three years.   

CRE Tech Influencers recognizes those in the commercial real estate space that not only have 360-degree knowledge of technology but an in-depth understanding of the problems the technology needs to solve. The CRE Tech Influencer accolade compliments other recent awards RPM has earned including its Marketing team being named Department of the Year in the 2022 PR & Marketing Excellence Awards. 

To read more about GlobeSt.’s 2023 Tech Influencer, click here. To learn more about RPM Living, visit RPMLiving.com. 

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About RPM Living 

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #6 on the NMHC Top 50 Largest Apartment Manager list, managing more than 150 clients, 10 regional offices and 148,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to over 3,200 associates nationwide spread across over 45+ markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com.   

 

For the latest news, visit RPMLiving.com/blog.

Creating Impactful Moments in Fort Worth

It’s no surprise multifamily, like many industries over the past few years, has experienced unique hiring challenges as the workplace continues to evolve at a rapid pace. Likewise, the demands and desires of residents has kept the industry on its toes. But with constraints comes the opportunity to do things differently, and sometimes even better. 

When RPM Living’s Operations team in Dallas was faced with recent hiring challenges, they tapped into their local resources and close partnership with Fort Worth Housing Solutions (FWHS) to find a solve that would not only benefit both organizations but the local Fort Worth community. The result did more than that, setting the wheels in motion to build an impactful program for local students to gain experience in business while immersing them in the local community. 

FWHS was established by the City of Fort Worth in 1938 to provide safe, quality housing for low- to moderate-income residents to help them lay the foundation to improve their lives and set them up for success. FWHS works closely with various partners to promote economic independence including RPM Living who manages 15 of its communities throughout the Fort Worth area. 

As the effects of the nation’s recent hiring crisis began to take hold in the Fort Worth area, RPM’s Operations team connected with FWHS President Mary-Margaret Lemons to discuss potential solutions. Mary-Margaret, who has a close relationship with the school board suggested RPM meet with the Fort Worth Independent School District (FWISD) to explore potential partnership opportunities with local schools and the possibility of implementing a paid internship program. 

RPM Regional Vice President Anita Hord and Vice President Lisa Catlett connected with FWISD’s senior team to learn more about the vocational programs and how the two organizations could partner to create something impactful. Through several conversations and brainstorms, the paid internship was born. 

 

Jonathan-Ortiz-Cambridge-Court
Jonathan Ortiz and Cambridge Court's Community Manager

To promote the internship, RPM leaned on its Marketing and Recruiting teams who eagerly jumped at the opportunity to help by creating collateral to distribute to nearby schools and working up intern-specific job postings. This paired with close collaboration with FWISD, brought the team many bright students. 

“Interviewing intern student applicants from FWISD was so enlightening, learning their thoughts on college majors and career goals,” says Anita Hord, Regional Vice President at RPM Living. “In nearly every case, I was able to tie what they saw themselves doing in the future, to the apartment business, and explain to them what a variety of opportunities we offer.” 

Throughout the process, one clear candidate stood out: Jonathan Ortiz. The local Forth Worth native’s eagerness and desire to learn how a business works landed him the internship at FWHS’ Cambridge Court, an affordable 330-unit community managed by RPM near the Western Hills North sub-division. A high school senior at World Language Institute in Fort Worth, Jonathan is bilingual and aspires to study business or marketing in college. He works 15 hours per week at Cambridge Court, spending Saturdays immersed in learning the leasing process.  

 “It has been such a pleasure having Jonathan at Cambridge Court, and the residents have really enjoyed getting to know him” says Charlie Kinnard, Regional Manager. “He is a bright individual who brings a fresh take to the leasing process.” 

Jonathan-Ortiz
Jonathan Ortiz

We caught up with Jonathan to learn more about his experience at Cambridge Court and what he’s enjoying the most.  

RPM Living: What’s your favorite part about the leasing process?
Jonathan Ortiz: My favorite part about the leasing process would have to be when the applicant is approved, and knowing you were able to help someone.  

RPM: What motivates you?
JO: What motivates me is the hard work and effort of my co-workers.  

RPM: What is your favorite thing about living in Ft. Worth?
JO: My favorite thing about living in Fort Worth is the different activities there are to enjoy.  

RPM: What are a few things you’ve learned so far during your time at Cambridge Court?
JO: A couple things I’ve learned during my time at Cambridge Court is that patience is key. Being able to communicate is also important because it helps others understand clearly.  

“The opportunity to work with FWISD by opening up an internship for an overachieving and deserving student like Jonathan is in lock step with our shared missions,” says Mary-Margaret Lemons, President of FWHS. “We’re committed to improving lives in our community and having Jonathan work with RPM at Cambridge Court is a win for all parties. His success will open the door for future students to learn, flourish and make a positive impact here in Fort Worth.” 

While the multifamily and recruiting landscape continues to change, creating genuine relationships with the local community as well as the next generation, will continue to be a key starting point to creating impactful moments and profound connections. RPM is pleased to do just that by attending a FWISD-hosted job fair in April which will offer vocational programs in areas including construction, electrical, and business management, among others.  

For more information on RPM Living, visit rpmliving.com.
For more information on Fort Worth Housing Solutions, visit fwhs.org.
For more information on Fort Worth Independent School District, visit fwisd.org

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For the latest news, visit RPMLiving.com/blog.

RPM Living Investments Continues Houston Growth, Acquires Ashton on West Dallas

RPM Living announces the acquisition of Ashton on West Dallas in Houston’s Montrose submarket, in the heart of the city’s urban core. The acquisition marks RPM’s 17th acquisition in the greater Houston area and the wrap-style community is the second Houston asset to be added to the RPM Multi-Family Fund I portfolio.

Located within walking distance to Houston’s expansive Buffalo Bayou Hike and Bike Trail, Ashton on West Dallas is in a highly convenient location with immediate access to the city’s central business district and multiple city parks. Surrounded by Houston’s most vibrant entertainment districts and attractions, the community is near a variety of neighborhood bars and retail that make up the Montrose, Midtown, and Washington Ave. neighborhoods.

Built in 2013, Ashton on West Dallas features 246 units with 10-foot ceilings throughout, elevator-serviced corridors, and a stand-alone 24-hour fitness studio. Modern one- and two-bedroom residences have floor-to-ceiling windows, wood floors, and stone counters.

“Ashton on West Dallas provides us great opportunity with the potential for outsized rental growth given the area’s limited construction pipeline and Class A absorption projected to remain strong in light of the increased cost of home-ownership and Houston’s consistent population growth,” says Hank Farrell, Chief Executive Officer of RPM Living Investments.

The acquisition was financed by Amerant Bank. For more information on RPM Investments, visit RPMLivingInvestments.com.

Project Highlights

Owner: RPM Living
Multifamily Manager: RPM Living
Developer/Builder: Alliance Residential
Location: Houston, TX
Opened: 2013
Number of units: 246
Unit mix: 1 and 2 bedrooms

About RPM Living 

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #7 on the NMHC Top 50 Largest Apartment Manager list, managing more than 100 clients, nine regional offices and 112,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to over 2,500 associates nationwide spread across over 35 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com. 

For the latest news, visit RPMLiving.com/blog.